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Apple Now Debt Free, Says Internal Memo
An anonymous reader writes "99mac.se publishes an internal memo from Steve Jobs to Apple employees today.
According to the Memo, Jobs states that "Today is a historic day of sorts for our company." Apple used $300 million in cash to pay off the rest of their debt, and is now a debt-free company. A big turnaround from over $1 billion in debt in mid-1997.
Also noted in the memo is that Apple has $4.8 billion in the bank at this time." (Since this is not coming straight from Apple, confirmation -- or debunking -- would be helpful.)
They didn't make a game console that doesn't make money.
You're nothing; like me.
I can debunk it right now - Steve Jobs owes me thousands of dollars for the mental anguish I've experienced when trying to use the imac's original "hockey puck" mouse.
The anti-salmon
Sometimes overcharging does pay off...
How does this compare? Favorably.
Cretin - a powerful and flexible CD reencoder
Apple's stock is up $.07, it must be true! ;-)
An iPod, a 15 inch PowerBook, iLife '04, Panther... if only I could get debt free. Apple has me hooked, I can't believe how much cash I spend on their products. Well worth it though.
. . .to borrow capital.
KFG
Apple should buy SCO, and then drop all lawsuits. They'll "own" Unix (whatever that means), and they can help continue their commitment to the Open Source community.
There is no gravity...the earth just sucks.
I doubt it's true. That bastard Jobs still owes me $5 from high school.
Non gratis rodentus anus
They key is to manage the debt carefully, and make sure that the interest payments do not get so large that they start eating away at your profits.
;-)
Would you like to run for Congress?
--You will rephrase your request for me to go to hell. Goto statements are not acceptable programming constructs
Indeed you are slightly mistaken here. Since Apple is now a debt free company, it makes it a more attractive buy for someone else since they do not have to take more debt, it makes it more attractive.
Oh. I see. Instead, we'll have to endure the "Apple is going to be bought by Disney" rumors again. Lucky us.
Jory
One ibook logic board! When I get my ibook back only then will the debt be paid!
Steve Jobs must have replied to one of those anonymous e-mails titled "GET OUT OF DEBT NOW".
Ergonomica Auctorita Illico!
I bought an iBook on Friday for around $1300 without tax. That must have been the sale that pushed them over the edge.
Of course, it doesn't hurt to colonize numerous less powerfull nations, systematically remove all profit and natural resources, then "benevolently" grant said colonies their independence when everything of value is gone and they're no longer profitable to the empire.
Hmm, maybe that's why the dollar is so weak compared to the pound....
God invented whiskey so the Irish would not rule the world.
Am I the only person here that has absolutely no idea what any of that means ? It kind of lost me after '$300 million...'.
Never, ever lose a file again. Ever.
Ah so the US must be doing REALLY great then! The federal government owes $7 TRILLION in debt!
All it took was for Jobs to respond to an email informing him that m0rttgage rattes are at an ALLL T1ME L0W, refnance now!
fdsaf fdfg4r
uttmfgs bnswf mmsgv orange micron
"And what would you havve me do?" Said Emma. The Rain in Spain falls mainly in the plain.
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Jobs probably used that $5 to buy his first black T-shirt at Mervyn's in 1972.
"Things are more moderner than before- bigger, and yet smaller- it's computers-- San Dimas High School football RULES!"
They copied Apple.
"I don't think it's selfish, to eat defenseless shellfish." -NOFX
Where are the Wired magazine articles about how to "save" Apple?
Where in the hell is Dvorak when you need him?!
Read the EFF's Fair Use FAQ
Nonsense! I happen to know that you had to be able to spell "Internet" in order to get the VC millions.
Silly monkey.
Why yes, I AM a rocket scientist!